06/08/2021
Citizens Advises Abrasive Technology in its Sale to Blue Sea Capital
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Abrasive Technology (“AT”) in its sale to Blue Sea Capital.
Established in 1971 by Loyal (“Butch”) Peterman, AT is a world leader in superabrasive tooling and bonding technologies. AT’s proprietary diamond-steel bonding is used in its Two Striper® brand dental burs as well as in other aerospace, medical and industrial applications. AT is headquartered in Lewis Center, OH and has plants in Elgin, IL, England, Spain and Canada.
Butch Peterman, founder and president of AT, said: “Mark Filippell and his team at Citizens guided us through the unknown and difficult process to a successful sale. They prepared the compelling story of our accomplishments and growth, engaged with strategics and private equity to get what, I believe, is a great outcome for Blue Sea and Abrasive Technology’s future together.”
Mark Filippell, managing director at Citizens M&A Advisory, said: “Butch Peterman and his team built Abrasive Technology ‘from the ground up’ into a world leader in superabrasive products. It was an honor and a pleasure to be of service to Butch and his team of technological entrepreneurs.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions. Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has closed more than 170 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $187.2 billion in assets as of March 31, 2021. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
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